MaxLinear (NASDAQ:MXL) Raised to “Buy” at Wall Street Zen

MaxLinear (NASDAQ:MXL) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

A number of other equities analysts have also recently commented on MXL. Stifel Nicolaus lifted their target price on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company raised their price objective on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 price objective on shares of MaxLinear in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Finally, Benchmark started coverage on MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price for the company. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.00.

MaxLinear Stock Down 9.4%

Shares of NASDAQ MXL opened at $64.86 on Friday. The stock has a market capitalization of $5.81 billion, a P/E ratio of -54.50 and a beta of 3.91. MaxLinear has a one year low of $12.77 and a one year high of $128.30. The firm’s 50 day simple moving average is $89.71 and its two-hundred day simple moving average is $50.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. During the same period in the previous year, the business posted $0.02 EPS. The business’s quarterly revenue was up 55.2% on a year-over-year basis. As a group, analysts expect that MaxLinear will post 0.5 EPS for the current fiscal year.

Insider Activity

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the transaction, the director owned 55,252 shares in the company, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This trade represents a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 50,118 shares of company stock valued at $4,787,444 over the last 90 days. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MXL. Larson Financial Group LLC grew its stake in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares during the period. Smartleaf Asset Management LLC lifted its position in MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in MaxLinear during the fourth quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.